iXBRL centre

Welcome to the iXBRL centre

Here you will find in one dedicated place all the information on iXBRL as published previously in Chartered Accountants Tax eNews and links to other relevant iXBRL information sources. Contact us at xbrl@charteredaccountants.ie

Latest iXBRL news

iXBRL

From 1 August 2018, Revenue’s updated Detailed Profit and Loss (DPL) taxonomy must be used for all iXBRL submissions relating to accounting periods commencing on or after 1 January 2015.  Also from 1 August 2018 Revenue will restrict the use of the IE GAAP and IE IFRS taxonomies.   Section 110 companies are also subject to the mandatory use of the DPL taxonomy and restriction.  Per eBrief No. 80/18, Revenue will now accept submissions of iXBRL returns which have been tagged using the updated DPL taxonomy.   The updated DPL taxonomy is for use with the Irish-extension taxonomies for FRS 101, FRS 102 and EU IFRS.   Use of the updated DPL taxonomy will be mandatory for all iXBRL submissions from 1 August 2018 where the accounting period commences on or after 1 January 2015. Also from 1 August 2018, the FRS 101, FRS 102 or EU IFRS taxonomy must be used for iXBRL submission for accounting periods commencing on or after 1 January 2015.   This is because Revenue will restrict the use of the IE GAAP and IE IFRS taxonomies for all iXBRL submissions to accounting periods ended on or before 31 December 2014.  This restriction is published in Revenue’s iXBRL FAQs (page 19).  Section 110 companies who prepare their corporation tax returns on the basis of single entity accounts prepared under ‘Old Irish GAAP’ would generally use the IE GAAP taxonomy to tag their accounts.   However such companies will be obliged to use the updated DPL with either the FRS 101, 102 or EU IFRS taxonomies for their iXBRL submissions for accounting periods from 1 August 2018.  Following engagement with Revenue at TALC Revenue have confirmed that this will not constitute an election to file returns on the basis of single entity IFRS Financial Statements or modified Irish GAAP.   Such confirmation is published in Revenue’s iXBRL FAQS (page 21). Revenue have amended their following related iXBRL guidance as a result of the above changes: Tax and Duty Manual 41A-03-01   iXBRL FAQs  iXBRL FAQs change doc v1.8 Error Messages Technical Note Style Guide  

May 08, 2018
Tax

We have confirmed with Revenue that there is currently a technical difficulty with the format of their new DPL Taxonomy on the Revenue website and this means that there is no direct access to the new schema necessary to adopt the DPL.   We expect a solution from Revenue shortly.    As we reported last month, Revenue released their DPL taxonomy for use with the FRS 101, 102 and EU IFRS taxonomies when tagging financial statements for iXBRL filings.  At the moment, this DPL taxonomy is not working as intended.  Until such time that Revenue has fixed the error with their DPL taxonomy, the DPL information will be accepted if the information is tagged using typed dimension tags as follows: Further item of operating income/gain [income statement item, component of operating profit (loss)]; Further item of operating expense/loss [income statement item, component of operating profit (loss)]; and Further item of non-operating gain (loss) before tax [income statement item, component of profit or loss before tax]. We expect an eBrief to issue from Revenue shortly on this difficulty. We will report of any developments in Chartered Accountants Tax News.  

Dec 04, 2017
Tax

Revenue has released their DPL taxonomy for use with the FRS 101, 102 and EU IFRS taxonomies when tagging financial statements for iXBRL filings.  We will be meeting with Revenue to discuss the use of the DPL taxonomy as well as a number of current iXBRL filing issues in the coming weeks.   The DPL taxonomy is now accepted by Revenue although it is published as a wording draft to allow for consultation.  The DPL taxonomy is available to download from the Revenue website.   Revenue has confirmed with us that they updated their iXBRL FAQs in October 2017 for the following: Addition of new FAQ “The CT1 “Extracts from Accounts” menu contains mandatory fields for Turnover, Gross Profit and Profit (Loss) Before Tax etc. Does the DPL contain any mandatory fields?” to introduce mandatory tags in DPL. Update of table of accepted taxonomies in the question “What taxonomies will Revenue accept?” to incorporate the combined taxonomies for FRS101/102/EU IFRS + DPL. Addition of the term “Detailed Profit and Loss” on two lines of the question “Do I need to tag data which is listed in a Financial Statement but is not reported, such as data represented by a dash or a blank in a table?” to align this FAQ with the introduction of the DPL mandatory tags. Updates were also made to the FAQs in September 2017.  Details of the changes are available here.  Revenue has published information on the DPL taxonomy in eBrief No. 96/17.

Nov 06, 2017